Tag: real estate

Planning to buy a land in Nepal? This post is relevant for you. A lot of us dream to buy a property in Nepal but when it comes to catch the exemplary piece, often, we get jumbled and more precisely we are unassured if given property is the best fit. This is prominently seen in all young adults, especially adults who are living in abroad & looking to buy a property in Nepal. Hence, we are dependent on family members, brokers, distant relatives for their judgement. This results in a slow process, often hidden cost and cases where you also get cheated. Enough with the confusion and sceptics in the further purchase of the property.

Following are the major concerns and questions to ask and get vivid information from your broker if you are buying land in Nepal.

Location:

Land Size:

Bare in mind, land size may sound like least important thing but if you have seriously made up your mind to do investment in real estate, land size does matter. Please know if you want to buy 1 Ropani, 1 Ana, 1 Bigha or 1 Katha land for yourself. Also, you should be sure and aware of the ideal shape of land you want to buy. A reliable “Amin” should be considered for the accurate measurement of the respective land. This will help you to figure out the kind of investment you want to make. Also, saves you from being cheated.

Road Size / Access:

You need to ask your broker about the road size and the accessibility. This terminates if the proposed property is ideal for the 2-4 wheelers or not. This will also give you the insights about feasibility, public transport avenue. This often determines infrastructures like bank, school, hospital and shopping are around. Also one should be very aware of the road expansion project that might overlap their land-to-purchase during the execution.

Price:

Decide your investment budget. Price should also be accordant and directly proportional to land size and location you are looking to buy. Often there are lands which are on the verge of rush-sell due to certain reasons and thus their price may alter(usually depreciated value) from the standard ratings. Remember a fair and civil price is appreciated by everyone.

Buy Raikar Land not Guthi:

Raikar land has an individual or personal authority towards the property. Whereas, Guthi land means the territory belonging to a group of people. Very often people buy Guthi land without being transparent with its details. Usually, Guthi properties are confined with several disputes, a certain problem, an objection from an old party. This is one of the “Most Common” ways of cheating people in real estate scenario of Nepal. Ensure the kind of your land preference (Guthi/Raikar) before purchasing.

Mudda, Mohi, AnshaBanda, Field Visit and Naksha Details:

Do not invest over disrupts!!! You got to know the mandatory information before investing in your real estate if they have any of the following:

Mudda, Mohi Hak, AnsaBanda…. Often these questions will save you from making wrong decisions while investing and help you escape from inconvenient traumas.

Mudda means tangled by legal case and you definitely do not want to tie up with MuddaLand right? Just turn over these unnecessary stress. Mohi Hak is a land, been taken care by a respective person for a long span. The representative person is called as Mohi for that land which means he has certain rights to the property and holds legal authority as well. In a lot of cases in Nepal when a person is selling a land to the second party abide with mohi hak then he/she has to first give the mohi his/her rightful amount of share and then transfer the property to a new party. This can be tricky a lot of time.

The ancestral property is the type of property passed on to the children and grand children from their grand parents. Anshabanda, however, means a division of property within a family. During the division of the ancestral land, there might be unsolved matters and disputes among the brothers. This may create unnecessary tantrums and expenditure in the future in which you do not want to get involved.

Field Visit & Naksha Details are supposed to be same. A lot of time property on a field and their demonstration in naksha do not match. You need to check it beforehand and make a transparent deal before you lose the money for good.

Documents:

Following are the documents you should ask and check before buying property.

Lalpurja

Naksha

Tax Receipt

Nirman Sampanna

Rajinima / Manjorinaama

Tax Clearance:

The government of Nepal has a property tax policy that has to be paid annually. You would want to check or at least ask your broker if the property tax is clear or not for the property you are buying. It’s an individual party who needs to check before transferring land.

To hire a professional real estate agent is still not a well-established trend in Nepal. Although real estate is not a new area of interest for investors. Real estate agent in Nepal is one of the major investing vehicle people opt for. Still, we don’t have a culture to hire professional real estate agent. Talking about the global context, we can see that real estate is one of the most popular investing vehicles. We can see a lot of professionals working in the sector. Most of the property transactions are carried out through agents who act as the mediator between buyer and the seller. With a certain commission, they act a catalyst, making the transaction easier, faster and reliable.

However, the concept of hiring professional real estate agents is still new in our country. Although we can find plenty of brokers working as the mediator between the two parties, the process has still not become structured and streamlined. Most people prefer getting involved on their own personal level and cut down the extra commission they are required to pay the agents. Although there’s no doubt that anyone can shop for a house without formally signing on with a real estate agent but unless we want to take up home shopping as a part-time job, a professional agent might be able to match you with the perfect property much faster. Here are 8 reasons why you should hire a professional real estate agent.

Qualified and Experienced

The main difference between professional agents and non-professional brokers is that professional agents are trained, qualified and have knowledge. They have the required training and experience and know how the market works.

Ethical

Professional agents strictly abide by their work ethics. They know the value of their personal brand and would never do anything that could harm their brand. They are also visionary and know that putting customer’s interest ahead of their own can take them a long way.

Trustworthy

For the professional agents, trust and relationships come foremost than their property deals. They are in the industry to help you find the perfect dream house and to ease the customer experience for you. We believe in building a long-term relationship even though the deal could not work out for the first time. They believe in being there whenever you need them.

Transparent

Professional agents keep it real with both the parties- the buyer and the seller and keep no hidden costs or whatsoever. But this cannot be guaranteed when dealing with the nonprofessionals.

Price Guidance

As the saying goes, “You will know the path by actually travelling the path”, these experienced agents know the price of the properties the moment they step in. They can tell you if the properties are underpriced or overpriced and can save you from the bad deals.

Time Saving

They know exactly where to find the type of properties you are looking for. They can also help you get things done efficiently in closing the deal and hence can save you a lot of time for you and make your deals easier and faster.

Professional Network

One of the reasons why we need to hire professional agents is because they have a network of professionals such as contractors, lawyers, masons, plumbers and others who can be easily reached when required. We can hardly expect such facilities when we work with non-professionals

Handling Paperwork

Paperwork could be difficult, time-consuming and chaotic if you are a newbie in this sector. These works can get you into a lot of confusion. Hiring agents who have been working in this sector could guide you in handling the paperwork and ease your way through closing the deal.

Now that more people are being aware of the importance of working with professionals, we can see that a lot of professional real estate agencies rising. Working with these professionals can make your home buying process less frantic and more efficient. You can actually feel the difference!